If there is one person that lives and breathes the headline of this post - it's John Chow. In fact his blog title boldly states "I Make Money Online By Telling Other People How Much Money I Make Online" - so much for modesty. But it works, at least for him.
There are a few other blogs out there that display their monthly earnings and dissect each and every single channel they use to increase their cash flow. Mostly they report an increase in earnings. Chances are it probably won't work for you. No matter how hard you try you cannot mirror the same success one person has had in exactly the way it has worked for them. You have to do things your own way.
I used to report my earnings at the beginning of this year but stopped doing so as I didn't want to be another "Make Money Online" blog. I've had some great months in the middle of this year, things have slightly slowed down now. But I'm not that worried about it. I've been through worse.
I kept thinking to myself, What if I had kept showing my income? Would it have increased substantially, or Would it be just the same as it has? I'll never know, but I don't regret it either. There's still a lot to learn about making money online, heck there's still a lot to learn about making making offline. But sometimes you just need to stop learning and start doing. Action and experience can teach you more in a single day than all the literature in the world!
Some people are comfortable with showing how much they make online, it may eventually help them make more as others are interested in knowing how they are doing it. So to answer the title of this post - Yes, in some ways showing off your income can help you make more money. It all depends on you and how active you are in doing so.
Just look at each and every single publicly listed company on any stock exchange anywhere in the world. Once they begin reporting their earnings a majority of them usually keep reporting higher earnings every quarter. I'm sure the investor money they have, to grow their business, helps too. Too bad we can't sell stock of our blogs...hmmm....now that's an idea!
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I think that showing how much you earn online can generate the perception that you are successful, which makes people want to spend money buying advertising from you. For example, John Chow always makes a lot of money because people perceive him to be the one of the most successful bloggers out there. They’ll trust him (authority) and follow his lead.
Showing your monthly income should indirectly make you more money since people will be interested in how you do it. You’ll have ‘loyal’ followers.
More traffic = more income potential right?
So will you guys follow my lead if I start posting my online income again?
I concur with Ellie. Showing your income attracts attention of new bloggers as well as pros and result links on these blogs drive some traffic as well as sometimes Google juice too.
Hmmm, people like to get an idea about the income potential of Blogging so it does help and lead to followers; on the other hand, I think some people consider it a legality issue, but that is another issue that probably does not retain to Blogging as a Business.
I’ve leaned towards disclosure of earnings since July 07 because it was all a bit of an experiment for me. Not sure what a happy medium would be but with todays Shoemoney, John Chow-n-Cows gas at three f*(&’n dollars a gallon we’re all just shocked that we can money money online. And good for us.
I don’t really like it when blogs talk about how much money they make. I understand why they do it, but it always seems to come off like “I have money and you don’t.” Maybe its just because I’ve been less than successful making money with my blog, idk.
@Hyder – we are aren’t we?